Zacks Investment Research downgraded shares of Newmont Mining (NYSE:NEM) from a strong-buy rating to a hold rating in a research note issued to investors on Friday morning.

According to Zacks, “Newmont’s shares have outperformed the industry it belongs to in the past six months. The company is making notable progress with its growth projects. We are also impressed with its  efforts to reduce debt and improve efficiency. Moreover, the acquisition of CC&V represents a significant opportunity. However, the company is exposed to a highly volatile gold price environment. It also faces headwinds from high production costs. The company's falling gold reserve base is another concern.”

Several other equities analysts also recently weighed in on the stock. Royal Bank of Canada reiterated a hold rating and issued a $43.00 target price on shares of Newmont Mining in a research note on Tuesday, December 5th. TheStreet upgraded shares of Newmont Mining from a c+ rating to a b rating in a research note on Wednesday, October 11th. FBR & Co set a $40.00 target price on shares of Newmont Mining and gave the stock a hold rating in a research note on Tuesday, October 31st. BMO Capital Markets reiterated a buy rating and issued a $43.00 target price on shares of Newmont Mining in a research note on Wednesday, December 20th. Finally, TD Securities set a $42.00 target price on shares of Newmont Mining and gave the stock a hold rating in a research note on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and a consensus price target of $41.95.

Newmont Mining (NEM) opened at $39.66 on Friday. The firm has a market cap of $21,150.00, a PE ratio of 56.66 and a beta of 0.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.18 and a quick ratio of 3.58. Newmont Mining has a 12 month low of $31.42 and a 12 month high of $40.25.

Newmont Mining (NYSE:NEM) last posted its earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.86 billion. Newmont Mining had a net margin of 1.18% and a return on equity of 6.20%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share. equities research analysts expect that Newmont Mining will post 1.47 EPS for the current fiscal year.

In other Newmont Mining news, COO Thomas Ronald Palmer sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $36.44, for a total value of $45,550.00. Following the completion of the transaction, the chief operating officer now owns 86,862 shares of the company’s stock, valued at approximately $3,165,251.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gary J. Goldberg sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $36.44, for a total transaction of $36,440.00. Following the completion of the transaction, the chief executive officer now directly owns 334,730 shares of the company’s stock, valued at approximately $12,197,561.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,700 shares of company stock valued at $1,020,676. 0.32% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Newmont Mining by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 54,285,832 shares of the basic materials company’s stock worth $1,758,317,000 after buying an additional 1,360,916 shares in the last quarter. Carmignac Gestion grew its stake in Newmont Mining by 8.0% in the 3rd quarter. Carmignac Gestion now owns 15,346,347 shares of the basic materials company’s stock worth $575,641,000 after buying an additional 1,141,466 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Newmont Mining by 12.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,596,020 shares of the basic materials company’s stock worth $397,458,000 after buying an additional 1,150,995 shares in the last quarter. Flossbach Von Storch AG grew its stake in Newmont Mining by 2.5% in the 3rd quarter. Flossbach Von Storch AG now owns 8,072,121 shares of the basic materials company’s stock worth $302,785,000 after buying an additional 198,935 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Newmont Mining by 7,145.7% in the 2nd quarter. Janus Henderson Group PLC now owns 5,273,545 shares of the basic materials company’s stock worth $170,812,000 after buying an additional 5,200,763 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

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Newmont Mining Company Profile

Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.

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